$0.25 Earnings Per Share Expected for MRC Global Inc (MRC) This Quarter

Brokerages forecast that MRC Global Inc (NYSE:MRC) will announce earnings per share of $0.25 for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for MRC Global’s earnings, with the highest EPS estimate coming in at $0.33 and the lowest estimate coming in at $0.20. MRC Global reported earnings per share of $0.02 in the same quarter last year, which would indicate a positive year-over-year growth rate of 1,150%. The company is expected to announce its next quarterly earnings results after the market closes on Wednesday, October 31st.

On average, analysts expect that MRC Global will report full year earnings of $0.70 per share for the current financial year, with EPS estimates ranging from $0.62 to $0.87. For the next fiscal year, analysts expect that the firm will post earnings of $1.23 per share, with EPS estimates ranging from $1.08 to $1.48. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for MRC Global.

MRC Global (NYSE:MRC) last released its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.04). MRC Global had a return on equity of 7.00% and a net margin of 1.97%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm earned $0.02 earnings per share. The company’s revenue for the quarter was up 17.4% compared to the same quarter last year.

A number of equities analysts have commented on MRC shares. ValuEngine raised shares of MRC Global from a “hold” rating to a “buy” rating in a research report on Friday, June 22nd. Zacks Investment Research cut shares of MRC Global from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 3rd. JPMorgan Chase & Co. lifted their price objective on shares of MRC Global from $25.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, September 17th. Stifel Nicolaus lifted their price objective on shares of MRC Global from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 3rd. Finally, Northcoast Research started coverage on shares of MRC Global in a research report on Tuesday, July 31st. They set a “buy” rating and a $26.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company. MRC Global presently has a consensus rating of “Buy” and a consensus target price of $23.00.

MRC stock traded down $0.31 during midday trading on Wednesday, reaching $18.43. 14,198 shares of the company were exchanged, compared to its average volume of 745,368. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.43 and a quick ratio of 1.12. MRC Global has a one year low of $14.01 and a one year high of $22.98. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 624.67, a price-to-earnings-growth ratio of 1.80 and a beta of 1.61.

Institutional investors have recently made changes to their positions in the company. GSA Capital Partners LLP boosted its position in shares of MRC Global by 100.7% in the second quarter. GSA Capital Partners LLP now owns 105,861 shares of the oil and gas company’s stock valued at $2,294,000 after acquiring an additional 53,127 shares during the period. Artisan Partners Limited Partnership boosted its position in shares of MRC Global by 0.7% in the second quarter. Artisan Partners Limited Partnership now owns 1,002,522 shares of the oil and gas company’s stock valued at $21,725,000 after acquiring an additional 6,671 shares during the period. BlackRock Inc. boosted its position in shares of MRC Global by 6.8% in the second quarter. BlackRock Inc. now owns 6,342,696 shares of the oil and gas company’s stock valued at $137,445,000 after acquiring an additional 402,466 shares during the period. Principal Financial Group Inc. boosted its position in shares of MRC Global by 10.3% in the first quarter. Principal Financial Group Inc. now owns 45,544 shares of the oil and gas company’s stock valued at $749,000 after acquiring an additional 4,235 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of MRC Global in the second quarter valued at about $22,417,000. 96.78% of the stock is owned by institutional investors.

About MRC Global

MRC Global Inc, through its subsidiaries, distributes pipes, valves, fittings, and related products and services to the energy industry in the United States, Canada, and internationally. The company supplies products across various markets, such as upstream, midstream, and downstream. It offers ball, butterfly, gate, globe, check, diaphragm, needle, and plug valves; and other products, such as lined corrosion resistant piping systems, control valves, valve automation products, and top work components, as well as measurement, steam, and instrumentation products.

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